Pengding Holdings: Revenue from AI server PCBs reached nearly 1 billion yuan in the first half of the year, while revenue from high-speed optical module PCBs exceeded 600 million yuan.

Pengding Holdings announced the investor relations activity record, stating that the company has established AI servers and high-speed optical modules as its second core growth curve. In the first half of the year, revenue from automotive and server boards reached 2.267 billion yuan, a year-on-year increase of 181.58%. Among this, PCB revenue from AI servers approached 1 billion yuan, and PCB revenue from high-speed optical modules exceeded 600 million yuan, with a gross margin of 37.42% for the segment. The company's capital expenditure in the first half of the year reached 6.4 billion yuan, an increase of 3.4 billion yuan year-on-year. The Huai'an park, Shenzhen's third park, and the Thai park are progressing according to the established pace, and are expected to enter a phase of concentrated capacity release in the following two years. The newly built capacity is expected to be gradually put into production starting in 2027, with over a dozen factories under construction and more than a dozen planned. All production lines of the company are operating at full capacity, and computation-related products will enter a concentrated delivery phase in the second half of the year, with orders being fulfilled in succession. R&D investments are primarily directed towards cutting-edge fields such as AI servers, high-speed optical modules, automotive PCBs, and humanoid robots. As revenue scales expand, the R&D expense ratio is expected to steadily decline. The Thai park covers an area of approximately 600 acres, with multiple factories being built simultaneously. As the remaining factories begin production, profitability will quickly recover as fixed costs are diluted.